India's Asian Paints has increased prices by about 12% to counter rising raw material costs linked to the Middle East conflict, marking the steepest hikes in the industry, the firm said on Monday.The country's largest paint-maker by market share said the situation in West Asia remains fluid, and that input costs could take time to normalise"The recent escalation in West Asia has created significant inflationary pressures in raw materials, particularly through crude oil-linked inputs," Chairman R. Seshasayee said in an annual reportEarlier, rivals Berger Paints India raised its prices between 1% and 2%, Kansai Nerolac Paints 2-3% and JSW Dulux 10%.Indian paint makers have raised prices this year to offset higher crude-linked raw material costs, while volatility in petrochemical supplies due to tensions in the Middle East has pressured production and margins.
Asian Paints hikes prices by 12% as West Asia conflict drives up costs
Asian Paints has increased prices by approximately twelve percent to counter rising raw material costs. This significant price adjustment is linked to the ongoing Middle East conflict and its impact. Rivals Berger Paints India and Kansai Nerolac Paints also raised their prices earlier. JSW Dulux implemented a ten percent price increase for its products. Indian paint manufacturers are adjusting prices to offset higher crude-linked raw material expenses.
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